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Giving away


Jurgis
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How much are you giving away? (Income or wealth per year)  

78 members have voted

  1. 1. How much are you giving away? (Income or wealth per year)

    • 0%
    • 0-1%
    • 1-5%
    • 5-10%
    • 10-20%
    • 20-50%
    • 50-80%
    • 80-100%


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This thread is about giving away. I did not search if this has been asked before. :)

 

The poll is a bit unscientific since I ask percentages of income or wealth, but I was not sure if restricting to either one was the way to go.

 

I am giving away too little - about 1% a year. I plan to give away more in the future, but I don't have a specific pledge.

 

Relevant link/image:

http://www.thelifeyoucansave.org/

http://www.thelifeyoucansave.org/portals/0/images/resources/item_78.jpg

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I've donated to cancer research and supported charitable companies like Toms and etc. I don't mind giving money and that has been the bulk of my giving in the past, but I've been burdened recently with the feeling I should be investing time into something as well. I'm considering focusing more on devoting a portion of my time to activities like Big Brothers & Big Sisters or Habitat for Humanity.

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Yeah, there are two schools of thought on this:

 

- Personal engagement is better than giving money. (There were couple people on this forum who supported this on another thread)

- Giving money is more efficient than personal engagement if you have highly paying profession, investing income, etc. There was a talk on this during Peter Singer's Coursera course I believe. I could try to dig it up if there's interest.

 

I think this goes down to personal choice, preferences and perhaps where you are in your life (working/retired/etc.). Personally, I am involved in some nonprofits, but not much. No time and not really my thing. I can see where that could change if I retired and/or started spending less time on investing. ;)

 

 

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"Big Brothers & Big Sisters or Habitat for Humanity"

 

I've volunteered for both of these organizations.  Unfortunately, I am not sure I was particularly successful at either.  However, I would be much more inclined to volunteer for BBBS again instead of Habitat unless, perhaps, you are a particularly skilled tradesman.  I am not convinced that Habitat is a good way to build houses.  When I volunteered, there weren't enough tools; people with skills; plan for building; etc.  I also had a friend in low cost housing work and people had a lot of problems with Habitat houses after they were built and the people had moved in.  I am sure it varies from city to city, but that was my experience.

 

BBBS seemed ok.  The reason I said it did not seem particularly successful was that I mentored a kid once a week for 4 years and I am not sure I made a positive difference.  They warn you at the beginning that some people get frustrated with that, but I was still a little disappointed with our progress.  At the end of the day, it was only an hour a week versus the rest of the time at home and at school.  FWIW, I think the school did a nice job and tried to help the kid as well, but his problems at home were pretty bad and overwhelmed everything else.

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"Big Brothers & Big Sisters or Habitat for Humanity"

 

I've volunteered for both of these organizations.  Unfortunately, I am not sure I was particularly successful at either.  However, I would be much more inclined to volunteer for BBBS again instead of Habitat unless, perhaps, you are a particularly skilled tradesman.  I am not convinced that Habitat is a good way to build houses.  When I volunteered, there weren't enough tools; people with skills; plan for building; etc.  I also had a friend in low cost housing work and people had a lot of problems with Habitat houses after they were built and the people had moved in.  I am sure it varies from city to city, but that was my experience.

 

BBBS seemed ok.  The reason I said it did not seem particularly successful was that I mentored a kid once a week for 4 years and I am not sure I made a positive difference.  They warn you at the beginning that some people get frustrated with that, but I was still a little disappointed with our progress.  At the end of the day, it was only an hour a week versus the rest of the time at home and at school.  FWIW, I think the school did a nice job and tried to help the kid as well, but his problems at home were pretty bad and overwhelmed everything else.

 

Good points on both. The IRS tends to screw up nice gifts like HFH. Not to mention the interpersonal issues caused by some getting so much.

 

As to BBBS, I'm pretty sure what you did made a difference. I was never in the program but my mom set up time to hang out with a male family friends fairly often. It really does make a difference. If you think about it, it would be really weird if 1 hour/week could fix years of family issues you know? That kid was extremely lucky to have both you and the school (clearly had a good mother to get him in all these programs). It's the kids that aren't in the programs that really have problems ahead of them...

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To complete my random early morning Saturday posting, I have found that as I have increased my net worth I have started donating money.  Most causes are toward education and things/places close to me.  As I get older, I do think I will donate more but don't buy into the idea of giving it all away vs giving it to my children and grandchildren.  The way I look at it, I will leave most of my money to my family after I am gone. 

 

I have friends who don't donate a single dollar and it's not because they don't have any money.  I had a former friend who would just assume burn it before giving it away.  A bit of an exaggeration but if you saw how he lived, not too far from the truth.

 

As my kids have gotten older, I have donated my time coaching.  Coaching baseball has been almost a full-time job but it has been a wonderful experience.  I have really enjoyed working with the kids and plus I have had the opportunity to spend great time with my sons.  Maybe some of the most wonderful experiences of my life.  In addition, I have made some wonderful friends coaching.

 

Best,

 

AtlCDore

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